Contingent Public Liability Insurance

Contingent Public Liability Insurance covers you in situations where, after an injury to a member of the public or damage to their property, your contractor’s or builder’s insurance fails to pay out. It protects you when another policy has been invalidated.

What is Contingent Public Liability Insurance?

When you’re involved with a construction project, it makes sense to build in contingencies. You know there’s a chance the build may go over budget, so you build a contingency into your costings to ensure there’s a little more money available if it’s needed. You’re aware, from experience, that projects can go over their estimated time, so you add a little extra, where you can, to your timing plan to allow for some slippage. In other words, you safeguard yourself. Contingent Public Liability cover is designed around exactly the same idea. It’s insurance that comes into effect when another policy has failed. It’s a built-in safeguard that protects you when you need it the most. Like budget and time contingencies, you hope you don’t have to use it, but it makes good financial sense to have it, just in case you do. The alternative may be finding yourself liable for a claim against you that could amount to millions of pounds, ruining your livelihood. At Construction Insure, we help protect the construction industry by recommending and broking the policies we know will look after your interests and you finances.

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Whatever your contingent public liability insurance requirements, please get in touch today for a free no obligation quotation.

GETTING THE RIGHT CONTINGENT PUBLIC LIABILITY INSURANCE

Why do you need Contingent Public Liability Insurance?

How much do you trust your contractors? It sounds harsh, because a strong working relationship is built on trust. But, while you may trust their skills, their experience and their workmanship, do you totally trust that they are fully covered with a valid policy for public liability? Because, if a member of the public sustains injuries, or has property damaged as a result of your build, you could be directly liable if your contractor’s policy fails. Perhaps their policy is cancelled because they missed a payment. Or perhaps they have a valid policy, but it has clauses, exclusions and restriction they weren’t aware of. Whatever the reason, Contingent Public Liability Insurance will protect you from the consequences. And, when you consider that the injured party will hold you responsible if your builder’s policy fails, it makes solid financial sense to have it in place. Just in case.

What else do you need to know?

A public liability claim can easily run into millions of pounds, depending on the severity of the injury or damage involved. You can obtain Contingent Public Liability cover for £1 million, £2million and £5 million. But we always recommend opting for £5 million cover. There’s actually little difference in your premium when compared to the level below. Insurers will also need to know the type of build you’re involved with: whether you’re working with heat, if you’re excavating a basement and if you’re doing underpinning and piling work. They would also need to know if you’re using your own employees or if you’re bringing in a building contractor. This is because, if you’re directly supplying ‘labour only’ sub-contractors, You would also need Employers Liability to cover accidents or injuries, which covers you for £10 million. Insurers also need to know how much the project is going to cost although, in most cases, they only need the materials and labour costs.

Do you need any other protection?

If you need to insure your own plant, hired-in plant, or tools, it may be worth adding Contractors All Risk can be added to your policy. You can also add cover for contract work, which will protect your liability if your new build, refurbishment, loft conversion or extension is damaged by fire or vandalism. In theory, this is something your builder should already be covered for. However, it is worth adding it on a contingent basis, just in case major damage does happen to the building. If your builder is not properly insured, you could find yourself having to finance a rebuild with your own money. Not a situation you want to find yourself in. Contract works cover safeguards you if the worst happens, And it means that you don’t have to rely on anyone else to have the right insurance if it does.

How do you get the right advice about Contingent Public Liability Insurance?

Because we’ve been brokering insurance for the construction industry and property developers for forty years, we have the specialist knowledge to give you the help and advice you need to make sure your investments are financially protected. Because we are independent we have access to a large market, this means that the Insurance we advise is based on that which gives you the right level of cover at a competitive price. Any quotation we give is completely without obligation and so if you want to discuss your requirements more then please call us on 020 3958 6868 so we can talk to you about what you need and get the cover that’s right for you.

WHAT OUR CLIENTS SAY

" Comparing like with like plus some lower excesses you have managed to save me in excess of £1500 or approximately 15% on my previous insurer. "

- Hew Stevenson, March 2018

" We found you to be more thorough, efficient and reasonably priced than our existing insurer. We would not hesitate in recommending you to anyone."